We all know there's no such thing as job security anymore.
So, what will you do when your employer decides to let you go when the day comes? Start a side hustle, of course!
A side hustle is a perfect way to make some extra money and stay busy while you're looking for your next big gig. But how do you go about starting one?
I'm glad you asked... keep reading for 5 tips on how to get started.
Figure out what you're good at and what you love to do
It's not easy to figure out what you're good at. Sometimes it takes years of trial and error. And even then, you might not be sure.
The same goes for figuring out what you love to do. You might think you know, but then you try it and realize that it's not quite what you thought it was. So how can you figure out what you're good at and what you love to do?
The answer is probably something that you've been doing your whole life without even realizing it. Just take a look at your hobbies and interests. Are there any activities that you always enjoy? Are there any skills that come naturally to you? These are probably the things that you're good at and that you love to do.
Once you've figured that out, you can pursue your passions and achieve success in whatever field you choose. So don't be afraid to explore different options and experiment with different activities. Ultimately, only you can figure out what brings you joy and meaning. But once you do, there's no limit to what you can achieve.
Research to see if there's a market for what you're good at, and love to do
When it comes to starting a side hustle, it's important to make sure there's a market for the things that you're good at and that you love to do. Otherwise, you might spend a lot of time and energy on something that nobody wants or needs.
For instance, let's say you're a talented singer. You love it and are really good at it. You spend years honing your craft, only to find that the world is full of talented singers and there's no demand for your particular voice.
On the other hand, if you're a skilled plumber, you'll probably have no trouble finding work, since there's always a need for plumbing services.
So before you invest too much time and effort in developing your skills, make sure there's a market for them. Otherwise, you might end up singing for your supper instead of getting paid for it.
Create a business plan and track your progress along the way
A business plan is essential for any new business venture. It gives you a roadmap to follow as you launch your business and track your progress along the way. But what exactly should you include in your business plan?
The answer will vary depending on who you ask, but there are some essential elements that should not be overlooked.
First, you'll need to clearly define your business goals and objectives. What are you hoping to achieve with your new business?
Next, you'll need to research your industry and target market. What is the current landscape of your industry, and who are your potential customers?
Finally, you'll need to develop a marketing strategy and financial projection. How will you get the word out about your business, and how much money do you expect to make?
By developing a business plan, you'll be setting yourself up for success from day one.
Market yourself online and offline to get customers
No question that marketing yourself is an essential part of promoting your business and attracting new customers. But with so many different channels to choose from - online and offline - it can be tricky to know where to focus your efforts.
The good news is, there's no need to pick one or the other. The most successful businesses use a mix of both online and offline marketing techniques.
For example, you might use online ads to drive traffic to your website, and then use offline tactics like an introductory video call to convert those visitors into leads.
Or you might use offline methods like networking and public speaking to build relationships with potential customers, and then use online tools like email marketing to stay in touch. By using a mix of online and offline marketing, you'll cast a wider net and increase your chances of attracting new customers.
Celebrate your wins, no matter how small they may seem
It's been said that it's not the size of the dog in the fight, but the size of the fight in the dog. And while that may be true, it's also important to celebrate your wins, no matter how small they may seem.
After all, a win is a win!
So don't be afraid to celebrate your accomplishments, no matter how small they may seem. Because even the smallest victory is worth celebrating.
It sounds like a lot of work, doesn't it?
Well, it is - but it's also incredibly rewarding. And if you're willing to put in the effort, I promise you'll see results.
So get started by figuring out what your strengths are, doing some research to determine if there's a market for your skills or services, and then creating a business plan.
Market yourself online and offline to attract more customers, celebrate every win no matter how small they may seem, and before you know it you'll be running your own successful business.
What type of business do you want to start?
Or, have you started and it feels like you're spinning your wheels?
When you're ready, I offer a complementary business planning session to help you get started in the right direction.